EURUSD trades higher for 3rd consecutive day and jumped nearly 90 pips from low of 1.11350.The jump was mainly due to broad based US dollar selling. US President Trump has tweeted that US would hike tariff of 200bn Chinese good from 10% to 25% and currently “untaxed” USD325B will be tariffed at rate of 25%. China’s VP Liu to visit US on May 9-10th to re negotiate trade talks. It is currently trading around 1.12114.
On the lower side, near term support is around 1.11750 and any violation below will drag the EURUSD to next level till 1.11350/1.1100.
The high made on May 1st 1.12649 will be acting as near term major resistance and any break above will take the pair till 1.13300/1.1345.
It is good to buy on dips around 1.11750 with SL around 1.11350 for the TP of 1.1260/1.1330.
